Microsoft cofounder Paul Allen bought the ranch in 1993. The two-story log cabin Moderne lodge on 4,000 acres has only seven guest rooms, a 45-horse stable, and the vaulted main lounge has a towering window with a spectacular view of the Tetons.

Situated just feet from the river, South Fork Lodge is a favorite among the fly-fishing set, offering a range of accommodation options, including 18 suites, three low-key fisherman’s cabins, and an elegant four-bedroom river house.